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FCA blasted over inability to fine HBOS execs

The FCA has been slammed after it admitted it was unable to fine any former HBOS executives over the bank’s collapse during the financial crisis. The regulator’s HBOS report is to be published later this week. It is expected to include a lengthy examination of why only one HBOS director, Peter Cummings, was fined in […]

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Savers miss out on £100m as annuity shopping around plummets

Shopping around rates have fallen since the introduction of the pension reforms leading to savers missing out on over £100m, new figures show. According to Retirement Advantage research, the difference between the best and worst priced annuities on the £53,500 average-sized pension pot is currently £214 a year. Based on Association of British Insurers data, […]

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Standard Chartered cuts 15,000 jobs

Standard Chartered has announced plans to cut 15,000 jobs as it reports a “disappointing” loss for Q3. The bank reported a pre-tax loss of $139m (£90m) for July to September, which compares to a £991m profit for the same period last year. It says the loss reflects de-risking initiatives and challenging conditions in key markets […]

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HMRC withholds data on pension freedoms fines

HMRC is refusing to say how many people have broken new pensions reporting rules or how much it has collected in fines. A Freedom of Information request lodged with the tax office – and seen by Money Marketing – was blocked because the information “could be used by opportunistic individuals to undermine HMRC’s processes in […]

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